ROLE OF INNOVATIONS

Once, innovation was essential for growth. Today we know it's essential for survival. When there were only a few companies competing in various markets, it was easy to tell them and their products apart. There were three or four companies manufacturing TV sets, a few tape recorder companies and a handful of serious radio makers. There was little or no international competition and their products all looked quite different.

But today there are dozens of international companies competing for the same markets. There's a huge range of products and something to suit everyone's needs. So business is faced with the challenge of trying to work out what customers want, before they know they want it. A large part of the design brief comes from the research into customer requirements. So it sounds simple - find out what sells, then design it, make it and sell it.

Questions to UNIT 14

1. What is the connection between form and function?

2. What is the role of innovations?

3. What is the function of development in innovation process?